Finance Minister Sadakazu Tanigaki and U.S. Treasury Secretary John Snow agreed Friday that stubbornly high oil prices pose a risk for the global economy, Japanese officials said.
Their assessment came during a meeting just before the start of a two-day gathering in Washington of the Group of Seven financial ministers, the officials told reporters.
Tanigaki said a spike in crude oil prices is a risk for the Japanese economy. In reply, Snow said high oil prices are also a risk for the global economy, including the U.S., the officials said.